Home Finance Goodman Real Estate Sells Vive Apartments Ballard for $24MM

Goodman Real Estate Sells Vive Apartments Ballard for $24MM

Vive Apartments, Ballard, Men Strazzara, Seattle, Goodman Real Estate
Vive Apartments Ballard | Photo: Studio Meng Strazzara

By Brittan Jenkins

Four LLCs associated with Seattled-based Goodman Real Estate sold V!va Ballard or Vive Apartments in Ballard for $24.15 million or about $263,700 per unit to VIVE Apartments LLC.

Public records show $68,250 was deducted in personal property, resulting in a taxable selling price of $24,081,750 million.

Goodman originally acquired the 14,270 square foot plot of land at 1516 NW 51st St. in 2014 for $1.8 million and Venture General Contracting carried out the general contracting, design build and pre-construction for the apartments.

Built in 2015, the 6-story, 91-unit building was designed by Seattled-based Studio Meng Strazzara. According to their Web site, the building is listed as a 69,335 square foot structure with 40 parking stalls. The project was completed in the summer of 2016.

“The building is designed as a modern warehouse box, reflecting the eclectic and continually evolving architectural context of the neighborhood. Surrounding buildings include single and multi-family homes, restaurants and retail shops. The modern box design with large glazing openings provides a positive context to the surrounding buildings and neighborhood,” according to Studio Meng Strazzara’s Web site.

Units range from 346 square foot studios to 662 square foot one-bedroom, one-bathroom apartments. The building includes common area amenities, a rooftop deck equipped with a garden, BBQ, kitchen and dining areas. The building also features a street level lounge.